PoP Income Statement – January 2017

Mr. PoP and I put these income statements together for two reasons. First, we want to be transparent about our finances because we’re trying to be role models for other people who are trying to plant their own pennies (and end up with dollars someday!). Second, we do this to make sure we’re on track to meet our own long-term goals. If you’re not tracking your income statement and balance sheet, we highly recommend you start using a program like Mint to keep track of it all.

We’re off to a bang for 2017 in the PoP household, where we had pretty much the opposite of an “Uber Frugal January”.  Though I did get this yoga cats calendar for free.  That was pretty frugal!

Laser from the laser floor level. When it shows 2 lines like this, it's indicating an unlevel spot, so Mr PoP leveled it out a bit before laying the tile and the floor (and the process) was much smoother! And yes, that is the remnants of duct tape that was taped to the concrete subfloor underneath the tile that was removed. The guys that removed it were confused, too. =/

Laser from the laser floor level. When it shows 2 lines like this, it’s indicating an un-level spot, so Mr PoP leveled it out a bit before laying the tile and the floor (and the process) was much smoother! And yes, that is the remnants of duct tape that was taped to the concrete subfloor underneath the tile that was removed. The guys that removed it were confused, too. =/

As expected, spending on renovations* picked up this month as we spent money hiring out the tile removal (no regrets there!) and then spent some more money on top of that getting together further tile laying tools and supplies that Mr PoP is using to lay the tile. One cool toy tool that Mr PoP bought this month to help with the surface prep for laying the tile this time was this Bosch laser floor level.  Mr PoP bought a refurbished one, and we’ll sell it when we’re done, but it already helped identify a couple of small low spots and gave Mr PoP a lot more insight into the gentle topography of the floor that really makes a difference when laying the long, thin 6″ x 36″ plank tiles.  Luckily, the money spent here is already showing results as Mr PoP is about halfway through tiling the first of the three bedrooms. So yay!

Sidenote – between the laser floor level and the two Star Shower Laser Holiday lights we got in the after Christmas sale at Bed Bath and Beyond (50% + 20% off coupon FTW), we managed to spend just over $300 on laser toys/tools.  I found this amusing.  MOAR LASERS! 

The second, slightly less expected category was our “General Shopping” spending, where my purchase of a new Roomba (which we have now named “Newmba!”) was a bit earlier than originally planned. Our old Roomba has slowly been dying over the last year (at nearly 6 years of use and abuse, it has had a good run and we’ll probably sell it on ebay or Craigslist for parts). I had watched the sales over the holidays, and then finally bought one when I managed to stack a 20% off Bed Bath & Beyond coupon on top of a 15% off sale and take home a more advanced model that’s supposed to be better for long hair for $360, including tax when it’s usually $500 +tax. So far, Newmba is performing like a champ and really keeping dust to a minimum, despite almost half the house being without flooring. I think both Mr PoP and I view the Newmba purchase as a good one.

However, when you toss in a new $90 bike headlight (this one – it’s really bright!) and $40 for unlimited lifetime flat repair (including tubes!) on my bike (supplies/services that I’ll eventually get reimbursed for), our shopping spending ended up a bit higher than we thought it would going into the month.

The last category that saw some action this month is Mr PoP’s fun car. I’ll make him write a post on this soon, but for now I’ll just say I think we’re close to some big movement in this category and finally getting Mr PoP the car of at least some of his dreams. (He dreams of a lot of cars, so we can’t get all of them…) In the meantime, hopefully you can be as entertained as I was with the small stingray that was in the aquarium at one of the car dealerships we visited. Too cool!

Does anyone know how to post live photos on WordPress? This sting ray picture was much cooler as a live photo!

Does anyone know how to post live photos on WordPress? This sting ray picture was much cooler as a live photo!

Here are all of the January numbers!

The Bottom Line

  • Earnings before principal paydowns and savings allocations of $8,042.  

And the details…

Income

  • Wages and Salaries (after taxes, 401K deposits, HSA allocations, etc.): $6,631 – We’re back putting $ in our 401Ks again for the new year, so our take home dropped from the end of the year.
  • Rental Income: $1,600
  • Miscellaneous Income (rebates, reimbursements, etc.): $615 – $470 of this is actual an escrow refund since we overpaid into our escrow account last year, another $110 is an Adsense payment for ads on this blog.  (Full disclosure, guys!)
  • Total Income: $8,846

Expenditures

  • Groceries: $432 – a little high, but for 5 weekends and a fair amount of household supplies included this month I’m not going to worry about it.  Also, Mr PoP is eating more meat because he’s cooking it himself, so this might go up a bit.  We’ll have to see!
  • Eating Out: $215
  • Total Food: $647
  • Mortgage: $1,150 – this payment will drop in February (I think) with the escrow change
  • Home Maintenance and Repairs: $75
  • Renovations: $1,309 – most of this was supplies for the tile.  The removal, the laser floor level, a couple hundred leveling straps, thinset…
  • Bills/Utilities for Primary Residence: $119
  • Total Home: $2,653
  • Gas: $251 – our highest in a long time.  Includes several 200+ mile road trips for doctor’s appointments and test driving cars around South Florida.
  • Fun Car: $296
  • Total Transportation: $547
  • General Shopping: $581 – Newmba is lovely.  =)
  • Pet Supplies / Care: $0
  • Total Shopping: $581
  • Gym / Fitness: $53
  • Medical Treatment/Visit: $40
  • Media Subscriptions: $8
  • Total Health/Fitness/Entertainment: $101
  • Travel: 0
  • Total Miscellaneous: $0
  • Total “Personal Expenditures”: $4,529
  • Investment Properties: $91
  • Total Investment Expenses: $91
Earnings Before Principal Paydowns / Savings Allocations (EBPPS)
  • EBPPS = $8,846 – $4,529 – $91 = $4,226

Principal Paydowns / Savings Allocations

  • Transfer to Holding Acct for 2017 Roth IRAs: $1,000
  • Transfer to Taxable Investment Account: $3,000
  • Total Principal Paydowns / Savings Allocations: $4,000
Net Income = EBPPS – (Principal Paydowns + Savings Allocations)
  • $4,226 – $4,000 = $226 = Net Income

How was your income and spending this month?

 

* Long time readers might note that we changed a couple of category headings.  Kitchen Renovation became Renovation as the bulk of what we’re doing this year is in the rest of the house, though there will be a little more finishing up the kitchen.  And “Sunny”, which hasn’t made an appearance since July 2014, became “Fun Car”.

8 comments to PoP Income Statement – January 2017

  • Our income was static, but spending was a bit bizarre. I’m still pulling together notes about it and trying to decide if I count procedures in the month they happened or if they’re counted when I pay, some 6 weeks later.

    Can I just say, the laser floor level sounds really neat? I have a strange love of tools.

    When you sell the Roomba for parts, do you have to list it as a whole unit intended for scrap or do you specifically list the parts that will be useful?

    • I know what you mean about not knowing when to count things. For the most part we try to count when we pay for things, but sometimes it gets weird. Like when we got the tree trimmed. They did the service in September, I had to ask for the bill in November, and then they didn’t cash the check until January! In this case, we had counted it in September since that’s when we planned on spending it… but it was weird!

      I’m not sure how Mr PoP is going to list it – probably as the whole thing. But we purchased individual parts off ebay at different times, so not quite sure.

  • Nice work. Adding $4,000 to investments and still being cash positive is a great accomplishment.
    Investment Hunting recently posted..Qualcomm – Stock Buy, 100 Shares Of QCOMMy Profile

  • I paid a $3000 legal bill (that’s a discount of $1400 for paying in a lump sum, which I charged to a credit card) so I also spent all the money in January. My grocery bill was also out of control thanks to my Costco renewal.

    This month, I bought a 25 pound bag of pinto beans for $13 and am going to buy as few groceries as possible (fresh fruits and veggies, mostly) while eating down some of the staples that have accumulated. (Giant bag of quinoa, freezer full of pre-cooked rice, giant jars of spaghetti sauce, etc.)
    Frugal Paragon recently posted..January 2017: Credit Card FloatMy Profile

    • CincyCat

      I received a Costco membership gift card a couple of months ago, and have yet to act on it. I visited a local Costco as a “guest” just to look around, but didn’t see anything that jumped out at me as a good deal vs. our local grocery; certainly not worth the annual membership fee. (Although I suppose I have nothing to lose with the gift card…)

      What have you found to be the biggest cost savings vs. traditional grocery stores (not fancy places like Trader Joe’s or Whole Foods – I don’t shop there anyway)? Bulk meats? Laundry detergent? We have a deep freezer, but storage for dry goods is somewhat limited.

  • Neither of us has paid for a trip recently so our main savings account is bulking up (while our Wells Fargo account where we usually put reimbursements is stagnating, though there is a 500+ check from Wells Fargo for our unused escrow that needs to be deposited).
    Nicoleandmaggie recently posted..February is challenge month: I gotta get some @$!& writtenMy Profile

  • CincyCat

    I think it is interesting that you include escrow in your mortgage bucket. I’ve always considered “mortgage principal” and “taxes & insurance” to be separate entities. In our state, we are not required to have escrow (it’s optional), so we pay our mortgage separately from property taxes & insurance.

    Since those are “irregular” expenses, we put a fixed amount each month (annual grand total / 12) into an interest-bearing account for “taxes & insurance”. We pay semi-annual property taxes, quarterly local income taxes, home insurance, life insurance, our personal umbrella insurance, and both vehicle insurance premiums out of that account. It’s made life much easier since there is a fixed pull each month and the “regular” budget doesn’t get hit at odd times of the year with a huge expense.

  • Sara

    The stingray was really cool! I can summarize our expenses last year was above the average that we had. Hoping this year we can control all the expenses. Will try to do more saving tips these year.

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